Adell Harriman & Carpenter Inc. Acquires 3,496 Shares of Valero Energy Corporation $VLO

Adell Harriman & Carpenter Inc. increased its holdings in shares of Valero Energy Corporation (NYSE:VLO) by 4.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,616 shares of the oil and gas company’s stock after acquiring an additional 3,496 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in Valero Energy were worth $11,374,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of VLO. Amalgamated Bank boosted its stake in Valero Energy by 1.2% during the first quarter. Amalgamated Bank now owns 61,335 shares of the oil and gas company’s stock worth $8,101,000 after acquiring an additional 702 shares in the last quarter. Koshinski Asset Management Inc. boosted its stake in Valero Energy by 7.3% during the first quarter. Koshinski Asset Management Inc. now owns 6,508 shares of the oil and gas company’s stock worth $860,000 after acquiring an additional 445 shares in the last quarter. Alta Advisers Ltd bought a new stake in Valero Energy during the first quarter worth about $230,000. Salomon & Ludwin LLC boosted its stake in Valero Energy by 952.4% during the first quarter. Salomon & Ludwin LLC now owns 442 shares of the oil and gas company’s stock worth $58,000 after acquiring an additional 400 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Valero Energy by 1.8% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 40,533 shares of the oil and gas company’s stock worth $5,353,000 after acquiring an additional 706 shares in the last quarter. Institutional investors own 78.69% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on VLO. UBS Group reaffirmed a “buy” rating and issued a $183.00 target price on shares of Valero Energy in a report on Friday, October 24th. JPMorgan Chase & Co. lifted their target price on shares of Valero Energy from $177.00 to $197.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Citigroup cut shares of Valero Energy from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $134.00 to $150.00 in a report on Wednesday, July 16th. Piper Sandler lifted their target price on shares of Valero Energy from $200.00 to $201.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and issued a $195.00 target price (up from $181.00) on shares of Valero Energy in a report on Friday, October 24th. Three analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Valero Energy currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.27.

Valero Energy Stock Up 0.7%

VLO opened at $170.55 on Thursday. The company has a quick ratio of 1.09, a current ratio of 1.60 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average price of $160.97 and a 200-day moving average price of $142.30. Valero Energy Corporation has a twelve month low of $99.00 and a twelve month high of $178.43. The stock has a market capitalization of $52.98 billion, a price-to-earnings ratio of 35.60, a PEG ratio of 1.77 and a beta of 1.05.

Valero Energy (NYSE:VLO) last released its quarterly earnings data on Thursday, October 23rd. The oil and gas company reported $3.66 earnings per share for the quarter, beating the consensus estimate of $3.15 by $0.51. Valero Energy had a net margin of 1.21% and a return on equity of 8.69%. The firm had revenue of $32.17 billion during the quarter, compared to analysts’ expectations of $28.80 billion. During the same period in the previous year, the company earned $1.14 earnings per share. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. Equities research analysts forecast that Valero Energy Corporation will post 7.92 earnings per share for the current year.

Valero Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 18th. Stockholders of record on Thursday, November 20th will be issued a dividend of $1.13 per share. This represents a $4.52 annualized dividend and a dividend yield of 2.7%. The ex-dividend date of this dividend is Thursday, November 20th. Valero Energy’s payout ratio is presently 94.36%.

About Valero Energy

Valero Energy Corporation manufactures, markets, and sells petroleum-based and low-carbon liquid transportation fuels and petrochemical products in the United States, Canada, the United Kingdom, Ireland, Latin America, Mexico, Peru, and internationally. It operates through three segments: Refining, Renewable Diesel, and Ethanol.